How do you people find Karat scrap?

[יהודה שרון]

I am Sundar Tumuluru from Chennai, India and would like to join the bandwagon of Gold refining forum as I am also have 2 doctorates in Chemistry and Business Mgmt.
My wife passed away 8 months back and my children are well settled, now wanted to make a Hobby out of GOLD REFINING.. What are the Suggestions to start with....expect themembers to assist me in this hobby, though it is a costly one, have no liabilities to continue.

There are areas in India where you can purchase gold ore from small and underdeveloped mine owners and refine it that way I heard.

 

[4metals]

The post you quoted joined in December 2022 and only stayed for one day, so I doubt he will see this. Every post has a date when it was posted and odds on getting answers on old posts diminish with age.

 

[tryin not to get dead]

I just retired and I now need a hobby. Always been a tinkerer and saw some YouTube videos on gold refining. Been looking for karat scrap fairly extensively in my area (central Arizona) but it is scarce and when found, folks want nearly full scrap value or even more. I mean, do you have to buy a ton at once or make a deal with a pawn shop or jeweler? Seriously, 2 months and I have come up with a 2.5 gram 10k ring and a .5g 14k butterfly. Ebay seems to be a bust. Scrap on there seems to go for full scrap value usually with shipping and tax.
And yes I know I started this thread saying I need a new hobby but from the outside, it seems like it is a hobby that has the potential to pay for itself.
What does everyone think about this?

Get into metal detecting. As much free scrap karat you can dig.

 

[Yggdrasil]

Get into metal detecting. As much free scrap karat you can dig.

Welcome to us.

 

[ssmontecarlo]

I agree on one thing.....finding a good continual source of material, regardless what it is, regardless if a person has to buy, or it's donated/ free, is a problem. What I was buying ram cards off ebay 5 years ago, was CHEAP compared to what ebay sellers are asking. I purchase all escrap I could then.

 

[4metals]

Jewelry is one of the easiest scrap-types to refine and you can do well at todays prices. If you have some jewelry stores that buy gold near you, you can offer them your services which can easily include providing them with gold shot or bullion, silver shot or bullion, and chemical stone removal. All services jewelers need. You need to build trust and slowly build up a client base, but it is very do-able.

And the best part is you can learn all the skills required right here on the Gold Refining Forum. Refiners helping refiners.

 

[Nevadayote]

Finding material at reasonable prices is certainly a big thing. I've been following, and sometimes bidding on, Ebay auctions for e-waste and scrap jewelry. I'm often amazed to see things go far, far, above spot value! Some "Buy it now" stuff isn't too badly priced, but much of it really is! Just looking at scrap ram sticks, it seems that a lot of sellers figure you'll get some huge amount of values out of each and every stick. Then, there are the ones who seem to have learned how much good stuff their scrap contains and set prices right at spot value. Every so often though, I come across a sale where the seller just seems to want a fast sale...those are usually OK.

 

[4metals]

Finding material at reasonable prices is certainly a big thing.

I know a few members from the forum who started small as a hobby and got their gold (after they learned the basics) from hosting gold buying parties. You need to have the cash to buy the jewelry on the spot and you need to be good testing on a stone. Most of them worked based on paying 80-90% for the goods. All you need is test acids, a small scale to weigh the pieces, and a pocket of cash.